Can taxonomies of custom post types be used with category actions?

What you’re looking for are the create_$taxonomy, edit_$taxonomy and delete_$taxonomy hooks. $taxonomy is, of course, your taxonomy name.

<?php
add_action( 'create_your_tax', 'wpse32510_create', 10, 2 );
funciton wpse32510_create( $term_id, $tt_id )
{
   // do stuff
}

There’s also create_term, edit_term and delete_term.

Best place to find hooks: http://adambrown.info/p/wp_hooks/